Is it permissible to sell a product at a fixed price ($120) after the customer purchases a ticket for $1, and then the winner is chosen by lottery?

Selling tickets for one dollar each, then drawing lots to determine the winner of an item while the rest lose the dollar paid, is a form of forbidden gambling and Maysir (definition) (games of chance). Allah Almighty mentioned it in His saying: "They ask you about wine and gambling. Say, 'In them is great sin,'" and His saying: "O you who have believed, indeed intoxicants, gambling, [sacrificing to] stone altars, and divining arrows are but defilement from the work of Satan, so avoid them that you may be successful." Gambling is forbidden in all its types and forms, and its reality is a risk between two or more parties who waver between profit and loss.